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Friday, 26 June 2015

Commodity Market Update (Copper)

Gold and Silver prices are trading in a tight range. Gold is trading at 1172.80 while Silver is trading at 15.77 an ounce, as we write this. The Greece factor had driven prices in short term and market is likely to follow it for the day. The very short term bias is negative and we can see prices moving down in near term. Base metals on LME are in red with Nickel leading the laggards with a decline of 1.45% at 12530.00 and Copper is at 5746.0, -0.24%. Other metals are also lower and are likely to continue the prolong decline in coming hours too. Crude Oil and Natural Gas prices on NYM is at 59.49 and 2.81 respectively. Crude Oil prices are down by 0.28% and NG is lower by 1.26% at the time of writing this. Intraday bias for Crude Oil is neutral while that for NG is negative.